The pulse of the restless Indian…by Xavier Augustin

Ajit Jain on giving. The opposite of his boss. And for a good reason.

Buffett, in India, said people should give. Do you personally follow that, in terms of charity, give away personal wealth?A difficult and personal question and my views have changed somewhat over time. We have a son who’s been diagnosed with a serious illness and before he was diagnosed, I was in favour of the Buffett philosophy. I always felt I have got this fame, this wealth, I didn’t deserve, it doesn’t belong to me. But after my son’s illness, things did change. I didn’t deserve this and he didn’t deserve what he is getting.

So, in terms of my giving, without getting into too much of details of how things have changed, one, we focus on the Foundation that’s trying to find a cure for his illness. Second, I feel guilty, inasmuch as in his earlier life when he was healthy, I wouldn’t let him spend money and have a nice time. So, I have taken a U-turn and now I spend a lot of money and freely.

A difficult and personal question and my views have changed somewhat over time. We have a son who’s been diagnosed with a serious illness and before he was diagnosed, I was in favour of the Buffett philosophy. I always felt I have got this fame, this wealth, I didn’t deserve, it doesn’t belong to me. But after my son’s illness, things did change. I didn’t deserve this and he didn’t deserve what he is getting.

So, in terms of my giving, without getting into too much of details of how things have changed, one, we focus on the Foundation that’s trying to find a cure for his illness. Second, I feel guilty, inasmuch as in his earlier life when he was healthy, I wouldn’t let him spend money and have a nice time. So, I have taken a U-turn and now I spend a lot of money and freely.